Auction Property Details

58 & 60 Balliol Road, Bootle, L20 7EJ

Lot 22 - 13.07.2017

Offers in the Region Of £700,000

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For Sale by Auction 13th July 2017

WHY BUY?
Potential 42 Bed HMO
Across from Hugh Baird College
Potential rental income £195,000pa
Could lend itself to other schemes

DESCRIPTION
The original property consisted of 2 x semi-detached houses that were formerly used as a large care home until very recently. The two buildings were opened up into the one large detached building long ago and we've been advised by the vendors that they have since had planning confirmed to change the use and convert to full residential and provide a 42 bedroom HMO property. The property is directly across the road from Hugh Baird College which is an institute of higher learning that also offers university level degree courses with more than 300 courses and 5000 students.

The property would need considerable investment to convert and provide the full accommodation with the plans offering the accommodation over basement and 3 x floors. Finished the current scheme would consist of 42 bedrooms, 8 bathrooms, 6 kitchens and communal lounges. Ideally aimed at the student market with rentals in the region of £90pppw the potential gross annual income when fully let would be in excess of £195,000. There are large gardens to the rear which could also be used as additional parking and as a secondary access directly from Trinity Road.

LOCATION
Facing Balliol Road the property has an in & out driveway and is directly opposite Hugh Baird College. Bootle New Strand, Oriel Road Rail Station and Bootle New Strand Rail stations are all within 10 minute walk from the property with plenty of shops, bars, cafe and amenities close by.

Price Information

*Guides are provided as an indication of each seller's minimum expectation.
They are not necessarily figures which a property will sell for and may change
at any time prior to the auction. Each property will be offered subject to a
Reserve (a figure below which the Auctioneer cannot sell the property during the auction)
which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.